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ClubCorp Chief Executive Officer and Chief Financial Officer to Address Investors at ICR XChange ConferencePR Newswire (Jan 10, 2014)
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MYCC vs. ETF Alternatives
ClubCorp Holdings Inc owns or operates a portfolio of golf and country clubs, business clubs, sports clubs and alumni clubs. Its business is segmented into two areas - golf & country clubs and business, sports & alumni clubs.
Tuesday, Dec 102013, 10:31 PM
Friday, Oct 182013, 6:13 AM
Tuesday, Oct 152013, 10:18 AM
Tuesday, Oct 152013, 10:18 AM| Comment!
- ClubCorp (MYCC +1.7%) is initiated to a round of applause by the Street, with 6 out of 6 Buy ratings and a split of $18 and $20 PTs. Analysts are enthused by organic and M&A growth potential, a recurring subscription-based revenue model, and valuation.
- Jefferies believes the golf, country, alumni, and business club operator is "in a league of its own at the cross-roads of numerous avenues of discretionary leisure spend ... MYCC generates steady, recurring revenue and boasts visible organic and external growth opportunities."
- MKM Partners notes that management plans a $0.48 annual dividend beginning in 2014 (implied forward dividend yield of 3.3%) and may reduce high-yield callable debt to boost FCF. "MYCC has identified internal projects such as club 'reinventions' and pursues bolt-on M&A deals, which we believe have potential in a fragmented industry. In sum, we see encouraging parallels to the Wyndham Worldwide story, a steady performer in an unappreciated industry."